Gen Combo Ll Financial Accounting: Information For Decisions; Connect Ac
9th Edition
ISBN: 9781260260779
Author: Wild
Publisher: MCG
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Chapter 12, Problem 12QS
Summary Introduction
Concept Introduction:
The statement of cash flows is prepared to know the cash flow position of the business. The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The investing activities section of the statement indicates the
To calculate:the cash inflow related to the sale of furniture.
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Furniture costing $74,800 is sold at its book value in 2021. Acquisitions of furniture total $60,300 cash, on which no depreciation is necessary because it is acquired at year-end. Complete the general ledger accounts to calculate cash received from the sale of furniture.
Direction: Study the given data below and compute for (1) the cash generated/used in financing activities, (2) the net change in cash for the year, and (3) prepare the CFS for the year.
Learning is Fun Company has presented the following in order to aid the account in preparing CFS during the month.
Net income: P200, 000
Depreciation expense: P25, 000
Gain on sale on property and equipment: P100. 000
Decrease in trade and other receivables: P 70, 000
Purchase of property and equipment: P200, 000
Payment of loan from bank: P150, 000
Compute for the cash generated/used in financing activities.
Based on the given above, compute for the net change in cash for the year.
Refer to the financial statements of The Home Depot in Appendix A at the end of this book, ordownload the annual report from the Cases section in the Connect library.Required:1. Which of the two basic reporting approaches for the cash flows from operating activities didThe Home Depot use?a. Direct b. Indirect2. What amount of income tax payments did The Home Depot make during the year endedFebruary 2, 2014?a. $639 million c. $3,082 millionb. $2,839 million d. $12 million3. In the fiscal year ended February 2, 2014, The Home Depot generated $7,628 millionfrom operating activities. Indicate where this cash was spent by listing the two largest cashoutflows.a. Amortization ($1,757 million) and Capital Expenditures ($1,389 million)b. Share Repurchase ($8,546 million) and Capital Expenditures ($1,389 million)c. Amortization ($1,757 million) and Share Repurchase ($8,546 million)d. Dividends ($2,243 million) and Share Repurchase ($8,546 million)
Chapter 12 Solutions
Gen Combo Ll Financial Accounting: Information For Decisions; Connect Ac
Ch. 12 - What is the reporting purpose of the statement of...Ch. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Describe the direct method of reporting cash flows...Ch. 12 - Prob. 5DQCh. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQ
Ch. 12 - Prob. 11DQCh. 12 - Prob. 12DQCh. 12 - Prob. 13DQCh. 12 - Prob. 14DQCh. 12 - Prob. 15DQCh. 12 - Prob. 1QSCh. 12 - Prob. 2QSCh. 12 - Prob. 3QSCh. 12 - Prob. 4QSCh. 12 - Prob. 5QSCh. 12 - Prob. 6QSCh. 12 - Prob. 7QSCh. 12 - Prob. 8QSCh. 12 - Prob. 9QSCh. 12 - Prob. 10QSCh. 12 - Prob. 11QSCh. 12 - Prob. 12QSCh. 12 - Prob. 13QSCh. 12 - Refer to the data in QS 12-11. How much cash is...Ch. 12 - Prob. 15QSCh. 12 - Prob. 16QSCh. 12 - Prob. 17QSCh. 12 - Prob. 18QSCh. 12 - Prob. 19QSCh. 12 - Prob. 21QSCh. 12 - The following transactions and events occurred...Ch. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Prob. 9ECh. 12 - Prob. 10ECh. 12 - Prob. 11ECh. 12 - Prob. 12ECh. 12 - Prob. 13ECh. 12 - Prob. 14ECh. 12 - Prob. 15ECh. 12 - Prob. 16ECh. 12 - Prob. 17ECh. 12 - Prob. 18ECh. 12 - Prob. 19ECh. 12 - Prob. 1PSACh. 12 - Prob. 2PSACh. 12 - Prob. 3PSACh. 12 - Prob. 4PSACh. 12 - Prob. 5PSACh. 12 - Golden Corp., a merchandiser, recently completed...Ch. 12 - Prob. 7PSACh. 12 - Prob. 8PSACh. 12 - Prob. 1PSBCh. 12 - Prob. 2PSBCh. 12 - Prob. 3PSBCh. 12 - Prob. 4PSBCh. 12 - Prob. 5PSBCh. 12 - Prob. 6PSBCh. 12 - Prob. 7PSBCh. 12 - Prob. 8PSBCh. 12 - Prob. 12SPCh. 12 - Prob. 1FSACh. 12 - Prob. 2FSACh. 12 - Prob. 3FSACh. 12 - Prob. 1BTNCh. 12 - Prob. 2BTNCh. 12 - Prob. 4BTNCh. 12 - Prob. 6BTN
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